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Answer :
Final answer:
Zigma Enterprises uses the percentage of the joint cost method to allocate costs to rice grain and hay.
Explanation:
The rice milling process yields both rice grain and hay, with a specific allocation of joint costs to each product. Given that the rice grain receives 75 percent of the joint cost, and the hay receives 25 percent, it's evident that Zigma Enterprises allocates the joint costs based on the percentage of the joint cost method rather than the weight of the rice grain or the weight of the hay. This method places a deliberate emphasis on the perceived value or profitability of each product deriving from the same production process, rather than on the mere physical output weight.
Rice cultivation, which is often weeded, harvested, and processed by hand, is labour-intensive and requires meticulous water management to ensure optimal growth conditions. The Green Revolution has led to significant advancements in yield through improved rice genetics and fertilizer science. This has enabled farmers, particularly in Asia, to harvest multiple times per year, thus amplifying productivity.
In the context of economic decisions, particularly in agricultural settings where resources such as land and labour are crucial, the concept of opportunity cost plays a significant role. This concept assists in determining what to produce, how much to produce, and what tradeoffs must be made, given the limited resources.
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